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Mullen Group reports $61.5M Q4 profit, up from $20.2M a year earlier

Canadian Press - Thu Feb 9, 6:01AM CST

OKOTOKS, Alta. — Mullen Group Ltd. reported its fourth-quarter profit of $61.5 million, up from $20.2 million in the same quarter a year earlier, as its revenue for the quarter rose more than 10 per cent.

The trucking and logistics company says the profit amounted to 62 cents per diluted share for the quarter ended Dec. 31 compared with a profit of 21 cents per diluted share a year earlier.

Revenue totalled $502.7 million, up from $441.9 million in the final three months of 2021.

On an adjusted basis, Mullen Group says it earned 58 cents per share in its most recent quarter compared with an adjusted profit of 22 cents per share a year earlier.

For the full year, Mullen Group says it earned $158.6 million or $1.62 per diluted share, up from $72.4 million or 75 cents per diluted share in 2021.

Revenue for 2022 totalled $2.0 billion, up from $1.5 billion the previous year.

This report by The Canadian Press was first published Feb. 9, 2023.

Companies in this story: (TSX:MTL)

Provided Content: Content provided by Canadian Press. The Globe and Mail was not involved, and material was not reviewed prior to publication.